SR-6-B (46)
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LUTM:SF:DKW:SHK:F:\PLAN\SHARE\TORCA\FNMAP\FMTPC273
Counell Mtg: February 22, 1994 Santa Monica, Californla
TO: Mayor and Clty Council
FROM: Clty Staff
SUBJECT: Recommendatlon to Adopt Resolutlon Approvlng Flnal Map
for Tenant-Partlcipating ConverSlon TPC-273 at 2641
Fourth Street
INTRODUCTION
This report transIDlts ror City Counell approval a Final Map for the
followlng Tenant-Partlclpatlng ConverSlon proJect:
Tract No. TPC NO. ADDRESS OWN2:R UNITS
51430 273 2641 4th Joseph and Laura 6
Street Claramella
BACKGROUND
The City Planning CommlSSlon approved the Tentative Map and the Ten-
ant-Partlclpatlng ConverSlon for the above proJect on November 11,
1992, after a publlC hearing and a careful reVlew of the record and
staff recommendatlons. The action of the Plannlng Commiss1on was
based on the Commlssion's findlngs that the proposed Tenant-
Partlclpatlng ConverSlon meets the requirements of Artlcle XX of the
Clty Charter and that the proposed subdlvislon is conslstent wlth
appllcable general and specific plans as adopted by the City of
Santa Monica along with all mandatory requirements of the
Subdlvlslon Map Act of the State of Callfornla
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FEB 2 2 1994
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The owners have submitted to the City a Wrltten Consent Agreement
binding the owners and any successors in lnterest to each condltlon
imposed in connection wlth approval of this Tenant-Particlpating
ConverSlon. ThlS Written Consent has been approved by the City
Attorney and the Clty Manager. Each participatlng tenant has been
informed in wrlt1ng of his or her rlghts under Artlcle XX of the
City Charter. The Llcense Di vis10n reports that proper arrangements
have been made to ensure payment of the Tenant-Participating
Conversion Tax.
The Final Map conforms to the Tentative Map. The Flnal Map has been
certified by the City Englneer for conformance wlth the Tentative
Map and cond1t1ons thereon, the Subdlvlsion Map Act and local
ordlnances. The City Attorneyts offlce has approved a Declaration
of Covenants, Condlt1ons, and Restrlctlons, or equivalent document,
for this project as complYlng wlth the condlt1ons of the Tentatlve
Map and the Tenant-Participatlng Conversion.
Council approval of a flnal map for a Tenant-Participating
Conversion represents one of the last steps necessary 1n the
converSlon process. Followlng City Council action and approval by
the California Department of Real Estate the applicants may begin
selling their units to the tenants. As each unit lS sold a
conversion tax per Bectlon 2008 of Article XX is due In an amount
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equal to twelve t1mes the monthly maXlmum allowable rent for that
un1t. These taxes will be used to assist low and moderate income
households to purchase or 1mprove their unlts subject to affordable
repay~ent per Sectlon 2009 of Art1cle XX.
BUDGET/FISCAL IMPACT
The recommendat1on presented in thlS report does not have an lmmedi-
ate budget or fiscal lmpact. If and as unlts in the proJect are
sold 1n the future, Tenant-Particlpat1ng ConverS1on Taxes will be
collected pursuant to the provlslons of Artlcle XX of the Clty
Charter and some 1ncreased property tax revenues may be generated.
RECOMMENDATION
It 1S respectfully recommended that the Final Map for this Tenant-
Partlcipatlng Conversion be approved by adopt1on of the accompanYlng
resolutlon
Prepared by: Suzanne Frick, D1rector of LUTM
D. Kenyon Webster, Plann1ng Manager
Susan Healy Keene, Ass1stant P::"anner
Plannlng and Zcnlng Dlv1sion
Land Use and Transportatlon Management Department
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8721 (CCS}
RESOLUTION NO.
(Clty Council Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO.51430
AT 2641 FOURTH STREET
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS.
SECTION 1. ~hac the Flnal Map for Tract No.51430 in the City
of Santa Monlca hereby lS accepted and approved.
SECTION 2. That the Clty Clerk hereby is authorlzed and
dlrected to endorse upon the face of sald Map thlS order
authentlcated by the Seal of the City of Santa Monlca.
SECTION 3. That the City Clerk shall certify to the adoption
of thlS Resolutlon, and thenceforth and thereafter the same shall
be In full force and effect
APPROVED AS TO FORM.
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~SEP~ LAWRENCE
tlng Clty Attorney
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Adopted and approved trus 22nd day of February. 1994
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I hereby certlfy that the foregomg Resolutlon No 8721 (CCS) was duly adopted at a
meetmg of the CIty Councl1 22nd day of February, 1994 by the followmg vote.
Ayes Councl1members Abdo. Holbrook. Olsen. Rosenstein, Vazquez
Noes Councl1members
Abstam. Councllmembers
Absent Councllmembers Genser, Greenberg
ATTEST:
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.______ ~ _~ //2. by c.';"", ~t'--;~" r-' M~
/ ~ City Clerk
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